In Crypto X Strikes Again! Part 5, which you can read by clicking Cyber Liability Insurance Columbia SC, Jen continued to explain some of the steps that are taken after a cyber-attack occurs that are covered by a Cyber Liability Insurance Policy.

“The next area we’ll tackle is managing your loss of business and reputation,” Jen continues.

“Some forms of cyber-attack, such as hacking or DDOS, can shut down a company’s ability to operate. That can translate into potentially days of lost revenue. In such cases, we would work to assess those damages and reimburse up to the policy limits.” (Click these links to learn more about hacking and DDOS)

“In your case,” she clarifies, “rather than shut down your ability to operate, the attacker instead tried to steal the data of your parishioners and employees without raising any alarms. Some of your ability to conduct business as usual may be affected, and those costs will likely be billable, but your biggest need will probably be in the next category: reputation management.”

“Reputation management?” Tom says, inquisitively.

“Some of your parishioners’ confidence in your ministry’s operations will undoubtedly be shaken by the theft of their personal data, and potential parishioners may be concerned about joining your church in the future. Reputation management is about demonstrating that your ministry is taking steps to remedy the problems caused by the breach and improving measures to stop this from happening in the future.”

“What sorts of things do companies do to repair their reputation?” Tom asks.

“Some organizations choose to offer discounts, special promotions, or free credit monitoring services for customers affected by the data breach. Communication with your parishioners and others affected is also very important. Just as with notification costs, we can set you up with third party services who can help you manage your reputation and brand.”

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